Suddenly? No, of course not.
However, the Tancredo plan also calls for more enforcement against illegals and their employers, while simultaneously providing a legal, documented, and regulated source for inexpensive, taxpaying guest labor. This provides both positive and negative incentives for employers to get out of the illegal labor racket, and for illegal aliens to leave and do the same.
Will some or many guest workers eventually apply for permanent status? Sure, and there's nothing wrong with accepting them since they've demonstrated a desire to assimilate and obey our laws, and also as long as those accepted for green cards are calculated in our annual immigration quotas.
We're going to have foreign nationals coming into our country for the foreseeable future. A moratorium is quite unlikely and is likely unnecessary. The key is for our country to get control of who enters, and the the key to that is a guest worker program that doesn't reward illegal aliens for their lawbreaking.
Fatalis, I applaud your optimism that a Tancredo-style guest worker program would work and end the nightmare of illegal immigration. I just don't have the confidence you apparently do that our federal government is going to, all of a sudden, after 30+ years of ignoring its own laws and constitutional responsibilities, put the interests of the American People before the interests of the Cheap Labor Lobby. The latter has some serious bucks that walks a long way in DC.
No, the government has to "earn" its credibility on this by enforcing the law and protecting our borders FIRST before even talking about guest worker programs.